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Lloyds Banking Group is expected to reveal this week that it paid more than 20 of its staff £1 million or more last year, but over 4,000 low-paid workers at the bank got no pay increase at all.

Unite national officer Dominic Hook said: “Last week the bank imposed a pay increase worth a measly 1.75 per cent which is to be shared amongst ordinary bank staff.

“There are 4,000 staff at Lloyds who got no pay increase at all and large numbers have endured four pay freezes in a row. It is one rule for the millionaires and another for hard-up staff on the front line in branches and call centres.

” To make matters even worse Lloyds have sacked 35,000 staff and the majority of workers left are stressed, overworked and feel far from prosperous.

“Unite is urging Lloyds to return to the negotiating table to recognise the contribution ordinary staff up and down the country are making to help the bank get back on its feet.”

Last week Lloyds Banking Group imposed an additional 1.75% pay pot to be shared amongst staff working in branches, call centres and back office functions up and down the country. Lloyds Banking also announced a further 550 job cuts this month. This is on top of the 1,340 job losses announced in January.